Salvage & Funding Update

STRONG WINDS & ROUGH SEAS

Due to strong winds and rough seas with 9 metre swells, the salvage vessel was temporarily unable to work but used this opportunity to return to port and carry out an early crew change. The stoppage also provided the opportunity to take on further personnel and equipment which allowed the vessel to return to site with enhanced capacity to continue uninterrupted salvage work.

“After an intensive mobilisation period loading, installing and testing all salvage equipment, the vessel transited to site 1 and was fully operational for 15 days straight. After initial as-found surveys were completed the team commenced with the removal of approximately 200 tons of overburden from prospect area ‘A’ which then allowed access for the cutting of deck plates and bulkheads. The next phase at prospect ‘A’ is to dredge out the many decades worth of silt and remove further overburden to expose access to the cargo hold. Initial works have commenced on the second prospect area ‘B’ with overburden removal, this is progressing well and will now move forward in parallel with works at prospect ‘A’. We will soon be back at site and expect to remain self-sufficient at sea for about 6 weeks.”